ABOVE: CBN News Financial Editor Drew Parkhill appeared on the Thursday edition of CBN’s Newswatch to talk more about digital currency and how the U.S. is moving in that direction. Newswatch is seen weekdays on the CBN News Channel.
India plans to launch government-backed digital money with a digital version of its currency, the rupee.
In making the announcement last week, the country’s Finance Minister Nirmala Sitharaman said the move would strengthen the country’s online economy.
Sitharaman said, “Introduction of a central bank digital currency, will give a big boost to digital economy. Digital currency will also lead to a more efficient and cheaper currency management system. It is therefore proposed to introduce digital rupee using blockchain and other technologies to be issued by the Reserve Bank of India starting 2022 and 23.”
Details of the government’s plan still have…